You have been engaged to audit the financial statements of Hopewell Ltd. for the year ended December 31, 2020. The company follows IFRS. In examining the books, you became concerned with the following item: The bookkeeper, in recording interest expense for both 2019 and 2020 on bonds payable, made the following entry each year: Credit Account Title Interest expense Cash Debit 16,000 16,000 The bonds mature in 5 years, have a face value of $200,000 and pay a stated interest rate of 8%. They were issued at a premium of $16,849 on January 1, 2020 to yield an effective interest rate of 6%. Interest is paid annually each December 31. From the correctly prepared amortization schedule, you obtain the following: Date Interest expense Amortization amount Carrying Value 1-Jan-19 31-Dec-19 31-Dec-20 13,011 12,832 2,989 3,168 216,849 213,860 210,692 REQUIRED: 5 REQUIRED: Prepare the journal entries that the company's bookkeeper would prepare in 2020, assuming the errors are discovered while the 2020 books are still open. Ignore any income tax effects. The company uses contra-accounts for discount/premium any bond Date Account Title Debit Credit 7 Jan. 1/20 Past 0 1 Dec. 31/20 2 Current 3 4 5 6 -7